Women in Red SAVERS 2019

[Rukh O'Rorke]

Sept 4, 2019 17:16:33 GMT -5 debthaven said:

Thinking I have to give up the MBA idea, because - time.

Rukh O'Rorke , and because money too! I think you are right to give up the idea of the MBA and concentrate on Rukh Inc (ie your own company) as a side-job/extra source of income, and pay down your SLs.

I feel like an imposter on this thread now because I ain't saving anything now. I AM trying to keep my 10K in "saved savings" but I know it's just a matter of days or weeks before I have to use some.

I REALLY want to stay active on this thread, it keeps me accountable. I have been bringing lunches in most days for the past 2 weeks. I work 4 days/week: 3 days/week at Job 1 (my main job) and 1 day/week at Job 2. I'm allowing myself to buy lunch once/week at Job 1 (so bringing in lunch the other two days) and at my day at Job 2 (EVERYBODY at Job 2 eats in their amazing subsidized canteen. I can get a 3-course meal there for $5.)

I'm in no rush to see DS3 go back to college in 2.5 weeks. But once he does go back, DH and I will definitely be eating out of the pantry/freezer.

 

Eating out sometimes is a necessity!

Hopefully you can spend some quality time with DS3 before he leaves.

I was super lucky both kids commuted to college, but they will be flying the coop sooner or later now. It will be tough.

[azucena]

Aug 30, 2019 8:29:53 GMT -5 azucena said:

Aug 26, 2019 8:35:48 GMT -5 azucena said:

Payday savings of $2,116.  My net paycheck was about $100 higher and will be about $250 higher for the rest of the year since I've met the soc sec max.

I've hit the savings goal I set to move $5,500 into a Roth IRA for myself.  Now, I just need to see if we squeak by income wise to qualify.  DH also has an electrician lined up to do some jobs including added canned lights to our living room and a light/fan to DD2's bedroom.  These are the only rooms in the house without overhead lighting, and we've said we don't want to go through another dark winter without them

Keeping such close track of savings also made me start looking into refinancing because interest rates have dropped again.  Hopefully I can convince my husband to tackle that mound of paperwork with me.

Azucena 9/6/19 $20,572 of $25,000 goal (82%)

[seriousthistime]

azucena, I've also started to look at refinancing.  I'm in a HCOL area, and if it's not a jumbo mortgage the local banks don't seem interested. I'm investigating the rates online but that means people are calling, texting, and emailing me all the time.  

Ugh.

[snapdragon]

Sept 3, 2019 19:09:08 GMT -5 forwardwego said:

August Shoutouts Part 1 of 2:

snapdragon Good work topping off your travel account and earning your second & third , and being on pace to have your lasik surgery money in place. Very funny the vision of you using snapdragon flowers to "attack"! Glad you had a memorable girls' trip and are safely home, though a bit burned and sore. How is the cat sitting going? Is that a side gig, or a favor?? 

Hey forward - 

The cat sitting is for dad...he went to visit family and I went over to cat sit and watch the house. Though it is rougher on me this time around due to me commuting to work. I am getting up almost an hour earlier than I am used to and it's a 12+ hour day before I even get back to the house. I am missing my bed and regular sleep schedule really badly. I think the last time I had to commute was about 4-5+ years ago and the traffic patterns have changed.

Plus things have cropped up while dad was gone regarding the roof and I had to do a mad scramble to get someone to fix it. I don't know, things never fazed me that much but everything is conspiring to keep me awake or wake me up when I want to be sleeping. 

I think I need a real vacation and not having to take days off due to dad's medical procedures. That might help some. 

[Rukh O'Rorke]

Sept 6, 2019 8:31:46 GMT -5 azucena said:

Aug 30, 2019 8:29:53 GMT -5 azucena said:

Payday savings of $2,116.  My net paycheck was about $100 higher and will be about $250 higher for the rest of the year since I've met the soc sec max.

I've hit the savings goal I set to move $5,500 into a Roth IRA for myself.  Now, I just need to see if we squeak by income wise to qualify.  DH also has an electrician lined up to do some jobs including added canned lights to our living room and a light/fan to DD2's bedroom.  These are the only rooms in the house without overhead lighting, and we've said we don't want to go through another dark winter without them

Keeping such close track of savings also made me start looking into refinancing because interest rates have dropped again.  Hopefully I can convince my husband to tackle that mound of paperwork with me.

Azucena 9/6/19 $20,572 of $25,000 goal (82%)

How have you met the ss max but able to fund Roth?

[Deleted]

Sept 6, 2019 14:51:11 GMT -5 Rukh O'Rorke said:

Sept 6, 2019 8:31:46 GMT -5 azucena said:

Payday savings of $2,116.  My net paycheck was about $100 higher and will be about $250 higher for the rest of the year since I've met the soc sec max.

I've hit the savings goal I set to move $5,500 into a Roth IRA for myself.  Now, I just need to see if we squeak by income wise to qualify.  DH also has an electrician lined up to do some jobs including added canned lights to our living room and a light/fan to DD2's bedroom.  These are the only rooms in the house without overhead lighting, and we've said we don't want to go through another dark winter without them

Keeping such close track of savings also made me start looking into refinancing because interest rates have dropped again.  Hopefully I can convince my husband to tackle that mound of paperwork with me.

Azucena 9/6/19 $20,572 of $25,000 goal (82%)

How have you met the ss max but able to fund Roth?

The ss base wage limit is at $132,900, but the phaseout for Roth contributions isn't until 193K MAGI for MFJ.

[Saving4Norway]

Sept 6, 2019 8:10:50 GMT -5 Rukh O'Rorke said:

Sept 2, 2019 21:41:09 GMT -5 Saving4Norway said:

PayNoInterest - I just finished reading Work Optional, there was so much to think about!! I have also recently read Playing With Fire and Frugalwoods which I enjoyed too. Right now I'm reading Rightsizing Your Life, or something close to that.

Work optional has mixed reviews but I was considering getting it for DD. I'm pressing her to start investing but she is very spendy. $400 purses et al.

What do you think about this book for a recent grad making and spending too much money?

No, I wouldn't suggest that as much as I'd suggest the book Automatic Millionaire by David Bach.

[Rukh O'Rorke]

Sept 6, 2019 15:08:10 GMT -5 minnesotapaintlady said:

Sept 6, 2019 14:51:11 GMT -5 Rukh O'Rorke said:

How have you met the ss max but able to fund Roth?

The ss base wage limit is at $132,900, but the phaseout for Roth contributions isn't until 193K MAGI for MFJ.

Ah! That's the difference, poor ole HOH gets screwed again!



However, I'm not sure what my MAGI may end up being....I might be able to swing something.

[Rukh O'Rorke]

Sept 6, 2019 20:44:23 GMT -5 Saving4Norway said:

Sept 6, 2019 8:10:50 GMT -5 Rukh O'Rorke said:

Work optional has mixed reviews but I was considering getting it for DD. I'm pressing her to start investing but she is very spendy. $400 purses et al.

What do you think about this book for a recent grad making and spending too much money?

No, I wouldn't suggest that as much as I'd suggest the book Automatic Millionaire by David Bach.

I haven't read either, but it seems that AM is more of the usual, save, invest, etc. - more nuts and bolts and what would work with the YM crowd.

But work optional seems more focused on early financial independence, and doing what you want. I think that would appeal to her much more, resonate with what she wants to do with her life - various creative pursuits that may or may not be lucrative.

Reading both - would you say my 'idea' of what they focus on is accurate?

[seriousthistime]

Update

Account Name	Goal	Start	Amount Saved 9/6/19	Amt. Saved %	Roses
Gifts	$2,300	$335	$2,301	100.0%
Property Tax	$5,000	$2,984	$5,008	100.0%
Survival Fund	$6,000	$26	$6,003	100.0%
Household/Misc	$2,500	$1,075	$1,883	75.3%
Pet Care	$600	$130	$602	100.0%
Weekly Savings	$2,600	$0	$1,908	73.4%
Mortgage Cushion	$12,000	$4,200	$7,198	60.0%
Car Fund	$6,000	$0	$6,004	100.0%
Travel	$5,000	$0	$1,002	20.0%
Total	$42,000	$8,750	$31,909	76.0%

Seriousthistime, $31,909 8/30/19 (Goal $42,000)   


Weekly Savings Tracker: 

Week 37	Week 38	Week 39	Week 40	Week 41	Week 42
Week 43	Week 44	Week 45	Week 46	Week 47	Week 48
Week 49	Week 50	Week 51	Week 52

Just a minor update this time.  I added to Weekly Savings and Household/Misc. I managed to boost my overall savings from 75.5% of goal to 76% of goal. Woohoo. 

I have some hefty bills due this paycheck so I'm just creeping along.  Next paycheck should be better. 

[Saving4Norway]

Sept 7, 2019 10:15:38 GMT -5 Rukh O'Rorke said:

Sept 6, 2019 20:44:23 GMT -5 Saving4Norway said:

No, I wouldn't suggest that as much as I'd suggest the book Automatic Millionaire by David Bach.

I haven't read either, but it seems that AM is more of the usual, save, invest, etc. - more nuts and bolts and what would work with the YM crowd.

But work optional seems more focused on early financial independence, and doing what you want. I think that would appeal to her much more, resonate with what she wants to do with her life - various creative pursuits that may or may not be lucrative.

Reading both - would you say my 'idea' of what they focus on is accurate?

You obviously know your daughter much better - I'd say either that or perhaps consider Playing with FIRE (Financially Independent, Retire Early).

[Rukh O'Rorke]

Sept 8, 2019 0:46:56 GMT -5 Saving4Norway said:

Sept 7, 2019 10:15:38 GMT -5 Rukh O'Rorke said:

I haven't read either, but it seems that AM is more of the usual, save, invest, etc. - more nuts and bolts and what would work with the YM crowd.

But work optional seems more focused on early financial independence, and doing what you want. I think that would appeal to her much more, resonate with what she wants to do with her life - various creative pursuits that may or may not be lucrative.

Reading both - would you say my 'idea' of what they focus on is accurate?

You obviously know your daughter much better - I'd say either that or perhaps consider Playing with FIRE (Financially Independent, Retire Early).

Thanks! will check these all out. And hey - I could buy more than one book for her, such a cheapskate - I didn't even think about that until now!

[debthaven]

Thank you friends, I am very happy to be here even if I am not (yet?) actively saving.

I WILL need to use some of that "saved savings". We are still dealing with the fallout from our trip, plus we have 3 family birthdays in Aug/Sept (DD/DS1/DDIL). I prefer to let my adult kids choose their own gifts, so we still need to pay for those birthday gifts.

 

[azucena]

Sept 7, 2019 10:06:18 GMT -5 Rukh O'Rorke said:

Sept 6, 2019 15:08:10 GMT -5 minnesotapaintlady said:

The ss base wage limit is at $132,900, but the phaseout for Roth contributions isn't until 193K MAGI for MFJ.

Ah! That's the difference, poor ole HOH gets screwed again!



However, I'm not sure what my MAGI may end up being....I might be able to swing something.

We were able to do Roth for DH last year.  My income creeped up a bit this year with slightly bigger bonus - need to look at what our accountant did to calculate MAGI last year and see what I project for 2019.  If we don't squeak by, I'll probably try to backdoor it.

[teachermom]

Hi all!! I am still here just been super busy working on my house and now school.

I shuffled money around, got my house refinanced and worked doing UBEREats and saved and scraped and got my sewer line done on Aug 1st. Almost $16k. Now we are working on putting up a wood privacy fence on each side (back is already done by them). My neighbor on 1 side has agreed to half. Just waiting on the other side to agree before we tear that side down. More cash. I haven't sat down to look at everything so I don't have an update yet but hope to soon.

This winter the plan is to take out some walls downstairs, put in a support beam and finish tiling the basement. I have already paid for all the tile. Cost will be more grout and mortar. We also need to finish some walls and put up new trim. Then once that is done, we will start on the kitchen. Going to add trim to the doors to give it that shaker door look, then paint, new counters, back splash, and tile the floor. Already have the tile (got on clearance), paint and wood for the doors. Waiting to finish up the outside stuff before moving indoors. It is a work in progress, but I am keeping up with the cash flow so far. Coaching volleyball to make some extra cash about $3200. That will go a long ways in covering these expenses and it is only 6 weeks of a couple hours per night.

Great job with all the savings, savers!! Enjoying the conversation about retiring.....so want to be there with out but I have to pay off my student loans first!! Ugh!

Teachermom

[teachermom]

seriousthistime azucena I just refied and used a company that Dave Ramsey recommends....easiest process I have ever gone through. Call Churchill Mortgage 1-888-562-6200. They are awesome!!

Teachermom

[azucena]

Sept 9, 2019 14:03:41 GMT -5 teachermom said:

seriousthistime azucena I just refied and used a company that Dave Ramsey recommends....easiest process I have ever gone through. Call Churchill Mortgage 1-888-562-6200. They are awesome!!

Teachermom

Thanks - I've asked DH to look them up. Trying to delegate more as my work load has become crazy.

What were your closing costs? if you don't mind saying.

[Rukh O'Rorke]

Sept 9, 2019 14:03:41 GMT -5 teachermom said:

seriousthistime azucena I just refied and used a company that Dave Ramsey recommends....easiest process I have ever gone through. Call Churchill Mortgage 1-888-562-6200. They are awesome!!

Teachermom

I'll be looking them up too!

[snapdragon]

Snapdragon 09-10-19 --- $ 18,095.99 / $ 18,750

Car/House $ 3501.99 / $3500

Savings $ 4057.84 / $4000

Travel $ 4577.75 / $4500

Property Taxes $ 2110.44 / $2250

Lasik $ 3847.97 / $ 4500

New Totals $ 18,095.99 / $18,750

I am almost there! So close to my totals!!! 

Next month the property taxes will be done and all I have left to deal with is the lasik. I am really content with how I have managed to be able to squirrel money away. I still plan on figuring my expenses for next year and the kitchen remodel I hope to start.  

[teachermom]

Sept 10, 2019 7:46:18 GMT -5 azucena said:

Sept 9, 2019 14:03:41 GMT -5 teachermom said:

seriousthistime azucena I just refied and used a company that Dave Ramsey recommends....easiest process I have ever gone through. Call Churchill Mortgage 1-888-562-6200. They are awesome!!

Teachermom

Thanks - I've asked DH to look them up. Trying to delegate more as my work load has become crazy.

What were your closing costs? if you don't mind saying.

Around $3k.

[debthaven]

I had to use some of the savings I was hoping not to spend. Since I'm an adjunct my salary is all over the place, and the car rental and last few days of hotels are on this month's CC bill.

I also completely zapped the rental property taxes which are due in Oct. DH insisted on paying that. If we ever sell the rental we want to sell, he'll get that money back then.

[forwardwego]

GOAL	AMOUNT	STARTING	$$ TO DATE	% OF GOAL	$$ TO GO
JPPCU CUSHION	2000	350	1600	80	400
DD IRA	3000	1000	2000	66	1000
RENTAL MARGIN	12000	10700	7950	66	4050
PERIODIC EXPENSE	5000	1800	4100	82	900
CASH STASH pt 1	1000	300	1000
CASH STASH pt 2	1000	0	200	20	800
TOTAL	24000	14150	16850	70	7150

UPDATE 9/13/2019 $16850 (begin $14150; goal $24,000) beginning amount corrected

Feeling good about hitting 70%, and hopefully at least $20K by end of the year. Luckily/thankfully Hurricane Dorian stayed out to sea so we only had preparation expenses.

[azucena]

Sept 6, 2019 8:31:46 GMT -5 azucena said:

Aug 30, 2019 8:29:53 GMT -5 azucena said:

Azucena 9/6/19 $20,572 of $25,000 goal (82%)

Payday savings with long overdue reimbursement from travel $1,450.

DH was quoted 4% interest with about $3k in closing costs from the company posted above. This isn't worth it.  Rates have creeped up slightly over the last two weeks. I'll keep an eye on them. I need 3.5% over 20 years for a good breakeven calc.

Need to figure out if we can do Roth and the money in before the stock market goes up again too.

Azucena 9/13/19 $22,022 of $25,000 goal (88%)

[Rukh O'Rorke]

Sept 13, 2019 7:03:27 GMT -5 azucena said:

Sept 6, 2019 8:31:46 GMT -5 azucena said:

Payday savings with long overdue reimbursement from travel $1,450.

DH was quoted 4% interest with about $3k in closing costs from the company posted above. This isn't worth it.  Rates have creeped up slightly over the last two weeks. I'll keep an eye on them. I need 3.5% over 20 years for a good breakeven calc.

Need to figure out if we can do Roth and the money in before the stock market goes up again too.

Azucena 9/13/19 $22,022 of $25,000 goal (88%)

well - shoot!

[azucena]

Sept 13, 2019 8:47:23 GMT -5 Rukh O'Rorke said:

Sept 13, 2019 7:03:27 GMT -5 azucena said:

Payday savings with long overdue reimbursement from travel $1,450.

DH was quoted 4% interest with about $3k in closing costs from the company posted above. This isn't worth it.  Rates have creeped up slightly over the last two weeks. I'll keep an eye on them. I need 3.5% over 20 years for a good breakeven calc.

Need to figure out if we can do Roth and the money in before the stock market goes up again too.

Azucena 9/13/19 $22,022 of $25,000 goal (88%)

well - shoot!

Yeah - I'm choosing to think of it as one less thing on my to do list since my husband didn't seem super keen on tackling it.  I'm seeing 3.75%-4% at my local bank.

[teachermom]

Sept 13, 2019 7:03:27 GMT -5 azucena said:

Sept 6, 2019 8:31:46 GMT -5 azucena said:

Payday savings with long overdue reimbursement from travel $1,450.

DH was quoted 4% interest with about $3k in closing costs from the company posted above. This isn't worth it.  Rates have creeped up slightly over the last two weeks. I'll keep an eye on them. I need 3.5% over 20 years for a good breakeven calc.

Need to figure out if we can do Roth and the money in before the stock market goes up again too.

Azucena 9/13/19 $22,022 of $25,000 goal (88%)

Did they do a breakeven analysis for you? They sent it to me. You could look at a 15 yr loan, might be cheaper too.

[Rukh O'Rorke]

Aug 17, 2019 13:36:54 GMT -5 Rukh O'Rorke said:

Jul 11, 2019 12:20:28 GMT -5 Rukh O'Rorke said:

Rukh 07/11/2019 $200 (Goal = $20,000)

Rukh 08/17/2019 $250.13 (Goal = $20,000)

Rukh 09/18/2019 $350.28 (Goal = $20,000)



This rounds up to 2% of goal.......Score!!!

Just sent out my RI (Rukh, inc.) invoice.....very excited to think about getting paid for that. It is not a whole lot, but I'm so excited to have a little extra cash to put towards debts and savings.

oh yeah...and some fun money

Rukh is really needing some R&R - that isn't happening, but a few splurges/treats will help until I can take some time off. 

[plugginaway22]

We get one more paycheck this month and I am trying to see where the dust will settle after paying off travel month on the VISA and other expenses.  And as soon as the weather turns a bit cool, DH starts up again with the 'I need a new vehicle' talk. These months are just flying by!

[Rukh O'Rorke]

Sept 13, 2019 9:22:07 GMT -5 azucena said:

Sept 13, 2019 8:47:23 GMT -5 Rukh O'Rorke said:

well - shoot!

Yeah - I'm choosing to think of it as one less thing on my to do list since my husband didn't seem super keen on tackling it.  I'm seeing 3.75%-4% at my local bank.

rates have dropped!

[seriousthistime]

How much, Rukh O'Rorke?  I was looking for 3.375%, 30 years, low closing costs. They may have gotten that low a week or two but then started heading up.